Nanosilver Market to hit $3.3bn by 2024: Global Market Insights, Inc

to surpass USD 3.3 billion by 2024; according to a new research report by Global Market Insights, Inc. Robust demand for anti-microbial coating across food & beverage industry, healthcare, consumer applications, personal

care, etc. will boost nanosilver market size. This is chiefly due to anti-microbial properties possessed by product which helps across several applications in the aforementioned industries. For instance, in the medical industry, product is used to manufacture tubes, bandages, ointments, etc.

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Sturdy growth in nano-technology based consumer electronics in North America will help in attaining promising gains in the nanosilver market size in the coming years. It is extensively used in manufacturing electronic devices & equipment owing to its high thermal & electrical conductivity in inks, pastes and adhesives. Increasing demand for superconductors is expected to bolster growth of the nanosilver market which is credited to space restraints which is otherwise required for conventional cables. In addition, demand for nanosilver inks is growing due to need for higher resolution ink required in printed electronics, especially in gravure, inkjet and flexographic printing. These trends are anticipated to make noteworthy contribution to nanosilver market size.

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Strict laws and standards formulated by the U.S. EPA, FIFRA and other regulatory agencies against product applications due to its harmful implications on environment & human health will obstruct nanosilver market size. In addition, high product cost will be another factor which is likely to hinder nanosilver market size.

Nanosilver market size for physical mode of synthesis attained a prominent industry size which is anticipated to rise at a moderate rate by 2024. In physical mode, it is synthesized by evaporation and condensation which is carried using tube furnace at atmospheric pressure. However, this mode is not preferred for product generation as tube furnace occupies large space and consume large amount of energy which needs significant amount of time to achieve thermal stability. Biological and chemical reduction mode of synthesis are usually preferred owing to several advantages including cost-effectiveness, energy efficient, etc. which is likely to help propel nanosilver market size in the forecast spell.

Water treatment industry for nanosilver market size will witness growth close to 11% during the forecast timespan. This is primarily due to improving standards & legislations towards human health & environment primarily in the emerging economies which is likely to drive product demand over the projected timeframe. Product is extensively used as a disinfectant in drinking water supplies due to its biocidal properties.

In 2016, Asia Pacific nanosilver market size contributed close to USD 300 million. Considerable industry growth rate will be witnessed in the region owing to sturdy pace of food & beverage, water treatment, personal care, textile and healthcare industry which is credited to improving socioeconomic factors. Moreover, improving health standards in Asia Pacific led to formulation of strict legislations to improve human health & environment is another factor which is likely to contribute effectively towards nanosilver market size in the coming years.

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Silver Nanoparticles Market size was over USD 1 billion in 2015 with close to 13% CAGR estimation forecast from 2016 to 2024. Rising application scope in healthcare and food & beverages industry due to its antimicrobial properties will drive the silver nanoparticles market. Improving product shelf life and prevention from pathogens are key essential properties.

Carbon Nanotubes Market size was USD 1.35 billion in 2015, and is anticipated to grow at 22.1% between 2016 and 2024. Global carbon nanotubes market size is mainly driven by extensive applications across end-user industry. In recent years, demand for long wind turbine blades (>60 m) has increased significantly. These are exposed to higher values of mechanical stress during operation, leading to reduced performance.

https://www.gminsights.com/industry-analysis/carbon-nanotubes-market

About Global Market Insights

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